2017 proved itself to be a roller coaster ride for the world’s leading cryptocurrency in terms of market capitalization, bitcoin. Bitcoin saw a tremendous amount of attention from the financial world as it almost touched the $20,000 mark at its peak back in December of 2017.
In 2018, the road for bitcoin was largely downhill. After dropping down significantly in the last year, bitcoin is now floating around the price of $3,830, as per www.coinmarketcap.com. It has been staying in this range for quite some time now. But what should we expect moving into 2019?
In order to get a perspective on this entire bitcoin situation, BlockPublisher got in touch with the board member of BICRA (Blockchain Industry Compliance and Regulation Association) Thomas Power. Talking about the stability shown by the asset lately, Thomas said:
It will be stable all year 3-5K.
It looks like the wild ride of cryptos is now coming to an end. No more extreme bull runs. 2019 is likely seeming to be the year in which the main focus will be on developments made in the crypto world. The crypto world itself is still pretty nascent. It still has a lot of shortcomings and issues associated with it. 2019 should be focused more on solving these issues.
One of the things that the crypto world is missing out on right now is institutional involvement. Issues like volatility, manipulation, illegal usage etc. make the crypto world unattractive in the eyes of big corporations and institutions. There is also a lack of an exchange-traded fund (ETF) linked to cryptos. Once an ETF is approved by the United States Securities and Exchange Commission (SEC), the institutional involvement is expected to increase bringing in a lot of money in this space. As suggested by some experts in the game, we might just see a crypto-linked ETF in 2019.
Another important development to look out for will be regarding regulations. The crypto world right now is highly unregulated. This has led to the usage of this world as a source of carrying out illegal activities. A lot of investors have been scammed since the inception of this world. Once regulations are made regarding this world, it is likely that the illegal activities linked with it will be eliminated out and more large-scale adoption will be seen.
As for the price, it might stay stable all year, as suggested by Thomas. But then again, these are all just speculations. They have proven to be wrong in the past, they just might again in the future.